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Add as a preferred source on Google FxWirePro: EUR/GBP intraday bias lower, good to go short on rallies EUR/GBP trades with a slightly bearish bias on an intraday basis. The pair has broken 20-day MA support at 0.8584 on the hourly charts. We see scope for test of 1-hourly 50 MA at 0.8558. Violation there sees next major s…
By FxWirePro Team Aug 11, 2016, 7:07 AM UTC
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EUR/GBP trades with a slightly bearish bias on an intraday basis.
The pair has broken 20-day MA support at 0.8584 on the hourly charts.
We see scope for test of 1-hourly 50 MA at 0.8558. Violation there sees next major support at 0.8550 (trendline).
EUR calendar remains absolutely data-quiet today, focus on German growth numbers due Friday for fresh momentum.
Strong resistance seen at 0.8596. Bearish invalidation only on break above.
Recommendation: Good to sell rallies around 0.8580, Sl: 0.86, TP: 0.8550/ 0.8520
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